What are your Real Estate business’ biggest Assets?

When you look at your business and have a desire to see it grow and flourish, what do you see as your biggest assets?

If your answer to that question does not include the data in your database or CRM you are working with one arm tied behind your back.

To reach your potential you must combine your skills as a agent with the data in your business.

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In the past when technology was less advanced it was the smartest, focussed most hardworking agent that succeeded. Now more than ever there is a move towards intelligent technology to do more for your business. It is my strong belief that technology will not replace agents and the real estate business’ that thrive in future will combine the smartest humans and smartest technology. At the centre of your technology assets is your data and how it is used effectively.

Everyone has a database even if it is a simple as a contact list in Microsoft Outlook. However, to be effective and successful you must recognise the value of the customers in your database. The challenge here is every agent has more data than they can manage or prospect with- so how do you use it effectively? That is where technology comes in.

You have heard the term (and it is not mine) that data is the ‘new oil’ of business and how you use it is key to your future success and being a lead agent in your market. You have also heard the phrase ‘Big Data’ which is essentially adding more and more items of information from multiple sources and combining it to come up with new insights that helps your business. But again, while this sounds good, the thought of more data being made available to you may be a daunting proposition because the issue remains- how do I effectively use the data I have to better prospect, list and sell?

The key challenge you face to continue to be a leading agent is to combine your human skills with the right technology tools. You must not ignore the fact that your database is, along with yourself, the biggest asset your business has. Take the time to see what tools are out there to help you use your data better- that research will be key to your future ability to survive and thrive in the technology enabled age.

There are tools in the market now to help you be more effective and it is vital that you find these tools and use them. The important thing to look for is tools that combine both smart software that has the ability to look at your data and the activities of your customers and give you advice on the next person to contact. CTC Property is one such tool with data driven workflows and prospecting tools that tell you what vendors or buyers to contact based on their activity in your database and the broader market.

Your technology must be smart enough to manage the volume of data in your database and make you more effective as an agent- get out and find it or your business will not meet its future potential.